6/09/2015

Loh Boon Chye – A Singaporean CEO in SGX at last!


 
 
It is good news to know that a Singaporean has been appointed as CEO of SGX to replace Magnus Bocker. Hope with his appointment, the flirtation with foreign talents is over and those infected with the foreigner is good disease will not look for another foreigner in the days ahead. The damage done to the Exchange over the last few years is so severe that Loh Boon Chye would have a hard time trying to breath life back into it. And hope they will give him time to understand the inherent problems in the system and to tear out a few chunks of cancerous growth that has cost the Exchange to go into a comma for so long. It would be painful and the Exchange would get worse before returning to its former glorious days.

 
Anyone thinking that the recovering of a dying exchange can be healed in a year or two would be hallucinating and deluding himself. And any small scratches on the surface would not do any good. Hope Loh Boon Chye could get a good grasp of the cancerous growth in the Exchange system and recommend what is necessary to save the Exchange before it is eclipsed and be irrecoverable. Perfunctory or cosmetic changes would not do.

 
It would take a lot of guts and persuasion for the new CEO to revamp the Exchange and return it to becoming what it was meant to be, a stock exchange and not a casino. Perhaps Loh Boon Chye may want to talk to other stakeholders to get a better grasp of the severity of the cancer instead of talking to the converts that are part of the problem. Talk to the people who know and not those who are asking for the return of a lunch break for the sake of a lunch break or those who think cutting commission, reducing bid size or smaller board lots would save the day. They could not tell the difference between a cold and SARS or MERS.

 
The Exchange is in dire straits and needs immediate attention to identify the real cause of its precarious state of being. There is no time for more wayangs and pretensions if the Exchange is to be saved. All the computers plugged into the system must be unplugged immediately as their modus operandi is detrimental to the fundamentals of a stock exchange. They seek short term profits that are contrary to the long term good of stocks and the Exchange. The Stock Exchange must return to its original role of supporting the growth of companies on a long term basis when fund managers can return to talk about fundamentals and long term investment to grow with the companies.

16 comments:

Virgo49 said...

Thanks to RB who persistently load them with free advocates that they heed your advice to appoint a Singaporean

Now don't wake up when wake up???

The sun had already shone on their assholes

Anonymous said...

Is Loh Boon Chye a General like Desmond Kuek?
We must draw a distinction between a true blue Singaporean and a PAP Singaporean.

Anonymous said...

He has a very difficult job to do. How to save a dying patient? And worse, how to tell the converts that the patient is dying but the converts are still saying everything is fine, nothing wrong, just a few small tweaks here and there will do?

Anonymous said...

I think it's a mistake for Loh Boon Chye to take on the job.
It would have been better to let another PAP Alien take the job.
Then it's very clear how much Singaporeans are benefiting from the PAP government's pro Alien policy.

After Loh Boon Chye cleans up the mess.
Will another Alien take over the job and enjoy the fruits?
It's very common practice nowadays.
Singaporeans do the hard work and then get fired after the job is done (But not before they are asked to train the Alien replacing them).
Aliens get the credit of the hard work done by the outgoing Singaporean.

Anonymous said...

You right man. After so many years of hard work to build up a bank like DBS, they handed it to a foreigner. So was SGX to Magnus and allowed it to be in such a desperate state.

Anonymous said...

Hand SGX to another foreigner after this Loh Boon Chye revamp it to health? Pray they don't hand Singapore to foreigners after building it to what it is today.

Anonymous said...

I don't know which was worse.
Handing over Singapore to Aliens or handing over Singapore to Lee Hsien Loong.
What do you think?

Anonymous said...

Is HFT already live or still pending?

Anonymous said...

Hope Loh Boon Chye could get a good grasp of the cancerous growth in the Exchange system and recommend what is necessary to save the Exchange before it is eclipsed and be irrecoverable.
RB

Wah lau eh. That is as good as asking Teochew Ah Hia to make WP ready to be govt by next GE to save Singapore before it is eclipsed and be irrecoverable due to 60% keep on voting PAP.

Shake head!

ℳatilah_$ingapura said...

Please lah RB, most of the trading volume is executed by algorithms. There's no turning back.

Algorithms and software mathematicalmathematical models run our modern world. We now ADOPT technology, then ADAPT our lives to it. For e.g. texting forces you to ADAPT your typing and written communication to the texting protocol. Our economies are planned by MODELS. Therefore we ADAPT to the conditions implemented by govt policy which comes from those models.

There is no turning back.

Chua Chin Leng aka redbean said...

Is Hongkong and Shanghai run by Algo?

Our volume is $1b a day. Hongkong's volume is $27b a day!

Anonymous said...

Hongkong's volume is $27b a day!
RB 12:17 p.m.

Please lah, Hong Kong is a SAR (Special Autonomous Region) of China lah.

And do u know one China billionaire even lost $14 billion in just half an hour when his company stocks fell on the HKSE?

And why Hong Kong has tens of thousands of illegal street demonstrators and Singapore can't even get more than a couple of hundreds, even legally in Hong Lim Park?

So a sense of proportion please, RB.

Anonymous said...

algo trading needs the market to have depth which SGX do not have. It would have made sense in HK but not much in SG. Nice to pontificate abt the virtues of technology but that technology needs the required environment to work. With so much of the biggest counters in SGX locked up in Temasek, that environment is not there.

Anonymous said...

Anon 12:47, you got your proportion wrong. What is China when Singapore has the whole world behind it? Our hinterland is the whole wide world. Our stock market is linked to the whole wide world.

ℳatilah_$ingapura said...

@116:

I had another look at HFT, and have changed my position. This is a game changer, and it is dangerous SHIT.

Technology is neutral. "Virtue" however, is a human trait---the propensity to DO GOOD. For e.g. Virus technology (biotech): you can design a virus to infect and kill cancer cells (oncolytic virus) or you can design a virus to be delivered as a bioweapon to wipe out entire cities. The "virtue" completely depends on what the human actors choose to do.

Algo trading won't go away. The algos are getting "smarter" because of a renaissance in Artificial Intelligence, and the boost in hardware and bandswidth capacities.

As the algos approach human-level "intelligence", only a few "select" humans will be in the markets. We'll probably get some kind of "pareto" power distribution function, e.g. 10% of human operators will control 90% of the volume. And these operators will be geeks---people with math, engineering and science backgrounds. MBA's in Finance, Econs PhDs, aunty-uncle investor...all out of the picture.

Videos: Via Ferrata Mountain Climbing said...

https://youtu.be/d9fw4HJODI4

Short video: Mt Kk Via Ferrata trail

Looks far more difficult, tougher and more dangerous than even army training.

More videos on Via Ferrata mountain climbing:

https://youtu.be/tXoCIT7LT1M

https://youtu.be/dQsESye7gDE

Some online video reports on the aftermath of Mt KK and video footage/ accounts of some survivors:

https://youtu.be/TwivW_0ZzzA

https://youtu.be/OkaW1LRifsc

https://youtu.be/SpYFScLSjJg